20m trade clarification reqd

http://news.smh.com.au/babcock--brown-kills-off-swap-agreement/20080331-22pe.html

we have the dow jones newswires implying with their headlines that BJT have pulled out of buying the 5% stake in RJT.

but in the substantial shareholder notices it says BJT become a substantial shareholder with 5%.

and in company announcements it says swap agreement terminated.

is the swap agreement terminated because it has settled and hence now bjt have the 5% shareholding that they lodged in the notices after the market closed?

surely thay can not just cancel this proposed stake?

if past history is a guide with this company, i am sure the news is very bad whatever it is!!